The Mason Corporation has a 30-day average collection period and wishes to maintain a $5 million minimum cash balance Based on this and the information below, answer Questions 3 – 5
Cash Budget (in millions)
Q1 Q2 Q3 Q4
Beginning receivables $120
Sales 90 120 150 120
Total cash collections
Total cash disbursements (80) (160) (180) (160)
Net cash inflow
Beginning cash balance $5
Net cash inflow
Ending cash balance
Minimum cash balance
Cumulative surplus (deficit)
What is the ending receivables in the second quarter (Q2)?
a. $80 million.
b. $60 million.
c. $90 million.
d. $40 million. Get Finance Help Today
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